In this era of globalization, India is witnessing an increasing demand for the 3PL (third party logistics) business with companies now concentrating on managing their supply chain mechanisms in a better way and deepening their market penetration. Continuous improvement in logistic infrastructure has led 3PL services to be perceived as a far better way of controlling both internal and external logistic processes. Lucrative growth in India’s consumer electronic and durable industry has boosted the 3PL sector, generating estimated revenue of US$ 69 Million in 2010. The market is further anticipated to post a CAGR of around 36% during 2012-2014, on the back of rising demand for warehousing and transportation in consumer electronics and durable industry reveals a new report by RNCOS, “3rd Party Logistics Market in India”.
Industries including cement, chemicals and pharmaceuticals, textiles, FMCG, and metals, as well as the retail segment have been recognized as the major contributors to the projected economic growth, particularly to the logistics revenue. Corporate of novel generations seems to outsource non-traditional logistics requirements, such as reverse logistics, distribution, inventory management, order processing, and labeling and packaging. Based on such grounds with enormous opportunities for growth in 3PL, it would be justifiable to say that the industry holds a promising future in India.
However, there also exist some bottlenecks, like 3PL vendors often lack the capabilities to deliver full supply chain solutions. India’s huge geographical diversity requiring varied logistics expertise for each region presents the biggest challenge that needs to be addressed by the 3PL service providers. To overcome this problem, 3PL companies have to make huge investment to setup a logistics network.
The latest industry research by RNCOS acquaints clients with the current scenario of the Indian 3PL market. The segment-wise market potential of the 3PL services facilitates a better analysis of the penetration level of latest logistic services across different industries in India. Finally, we have also presented future forecasts for the industry which are based on the sum of our economic and judgmental analysis taking into consideration the past drivers, challenges, and opportunities for expansion. In this way, our report portrays the most impartial and vivid picture of the Indian 3PL market that will prove crucial for the clients.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM186.htm
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